** Preparation for Morning Session**
MARKET CONDITIONSWorld Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are higher today. Initial Jobless Claims to be released today before the market opens.
Economic Calendar
SPY - Market is gaping up today, following the world markets. Trading is occurring inside a smaller range between 156.50 and 154.50 and around the POC of the larger range at 155.55. There is a strong trend line down that could hold prices, but it still far way. If prices go below 154.25 and start to hold the bias will change to bearish. There is also a weaker trend up, but in order to have a bullish bias the longer trend down must be broken. The most likely scenario is prices trading around the POC til the down trend gets closer.
Bias: Neutral
Accuracy: 80% Prices were below 154.25 but did not hold below.
AM Stock Selection Sheet download
Updated at 7:30
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Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
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